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NCIUA sponsoring $350m named storm cat bond, Cape Lookout Re 2025-1

February 10, 2025

The North Carolina Insurance Underwriting Association (NCIUA) has returned to the capital markets seeking $350 million of annual aggregate named storm reinsurance protection through this Cape Lookout Re Ltd. (Series 2025-1) catastrophe bond.

Returning in 2025, the North Carolina Insurance Underwriting Association (NCIUA) is sponsoring the seventh catastrophe bond under its Cape Lookout Re Ltd. program of deals.

The NCIUA has now been a long-standing sponsor of catastrophe bonds since at least 2009, when the first cat bond to benefit the Association, Parkton Re Ltd, came to market.

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